US Bancorp DE Sells 9,435 Shares of Public Storage $PSA

US Bancorp DE decreased its position in Public Storage (NYSE:PSA) by 20.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 37,731 shares of the real estate investment trust’s stock after selling 9,435 shares during the period. US Bancorp DE’s holdings in Public Storage were worth $10,899,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of PSA. First Pacific Financial purchased a new stake in Public Storage during the third quarter worth about $26,000. Asset Dedication LLC boosted its position in Public Storage by 111.1% during the second quarter. Asset Dedication LLC now owns 95 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 50 shares during the period. Raiffeisen Bank International AG purchased a new position in shares of Public Storage in the third quarter worth about $30,000. NewSquare Capital LLC increased its stake in shares of Public Storage by 60.6% in the second quarter. NewSquare Capital LLC now owns 106 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 40 shares in the last quarter. Finally, Tradewinds Capital Management LLC bought a new position in Public Storage in the 3rd quarter worth approximately $33,000. Institutional investors own 78.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PSA. Wells Fargo & Company lowered shares of Public Storage from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $330.00 to $295.00 in a report on Thursday, February 5th. Wolfe Research cut Public Storage from an “outperform” rating to a “peer perform” rating in a report on Monday, January 26th. Deutsche Bank Aktiengesellschaft cut shares of Public Storage from a “buy” rating to a “hold” rating and set a $285.00 price target for the company. in a research report on Tuesday, January 20th. Morgan Stanley started coverage on Public Storage in a research report on Friday, December 5th. They set an “equal weight” rating and a $290.00 price target for the company. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $301.00 price target (down from $316.00) on shares of Public Storage in a report on Thursday, December 18th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $307.00.

Public Storage Trading Up 1.0%

Shares of PSA stock opened at $306.98 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 2.05. Public Storage has a 12-month low of $256.54 and a 12-month high of $322.49. The stock has a market capitalization of $53.88 billion, a P/E ratio of 34.03, a P/E/G ratio of 6.22 and a beta of 1.01. The firm’s 50 day moving average is $282.18 and its 200 day moving average is $283.49.

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be issued a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Monday, March 16th. Public Storage’s payout ratio is currently 133.04%.

Public Storage Company Profile

Public Storage (NYSE: PSA) is a real estate investment trust (REIT) that specializes in self-storage services. Headquartered in Glendale, California, the company was founded in the early 1970s and has grown through development and acquisitions to become one of the largest owner-operators of self-storage facilities in the United States. It is publicly traded on the New York Stock Exchange under the ticker PSA.

The company’s core business is the ownership, operation and management of self-storage properties that serve both residential and commercial customers.